Change. It’s critical to staying ahead. Especially for the procurement function, steeped in long-standing processes that could be slowing valuable progress. Yet with so many disrupting factors facing the function, it’s difficult to know where to start in transforming to a more modern way of working that brings greater value to the business.
Many organizations look to solutions that offer artificial intelligence or robotic process automation, but the challenge facing procurement is bigger than simply rolling out the latest digital trend.
With over half of CEOs saying that acting with agility is the new currency of business1 but almost 80% of CIOs saying their digital strategy is only moderately effective, or worse,2 it’s time for procurement to elevate itself and start having a much wider, more strategic conversation.
So what is stopping the function from evolving? Explore the five key areas holding back procurement organizations.
1 Global CEO Outlook Survey, KPMG International 2018
2 Harvey Nash/KPMG CIO Survey, KPMG International 2018